Bahrain

• Developed regulation of crypto-assets. There is regulation of several categories of licenses for crypto-asset service providers. There is partial regulation of the issuance of investment crypto-assets. 
• Strategically located in the Middle East and North Africa region. The jurisdiction is optimal for entering the markets of this part of the world. The world's largest cryptocurrency exchange Binance, cryptocurrency exchange Rain and CoinMENA service have received licenses here.
• Active role of the regulator and supportive environment. The local regulator was one of the first among the Middle Eastern countries to develop regulation in the field of cryptoassets. It actively cooperates with foreign authorities in this field. It also operates a regulatory sandbox to test innovative business models, as well as a specialized laboratory to facilitate the introduction of new technologies.
• Timeline for obtaining a license. The process of obtaining a license can take from 2 to 6 months, which is an average time compared to other jurisdictions.

• Bahraini citizenship and residency requirements. The director and key officers can only be Bahraini residents and the shareholders of the company must be Bahraini citizens.
• There is no specific regulation regarding mining and DAOs. For some, the lack of strict regulations may be an advantage, but for those who value transparency and a clear regulatory framework, the uncertainty can be a major obstacle.

The cost level for legalization in the jurisdiction is high.

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• Company formation fee: USD 450
• Authorized capital: varies depending on the license category from USD 66,000 to 796,000. In addition, the regulator may require additional capital to be paid in.
• State fee for reviewing the application for a license: USD 265.
• Annual state license fee: 0.25% of their respective operating costs, subject to minimum and maximum values for the license category, ranging from USD 5,300 to USD 32,000.

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• Completion of the registration form with key information and preparation of data for registration
• Name reservation
• Obtaining a tax number
• Registration of constituent documents
• Registration in the commercial register of companies

• Preparation of the main documentation package (including a business plan) and submission of an application for a cryptol license
• Payment of the initial state fee for consideration of the application
• Review of the application by the regulator
• Final approval